DeFi

Even with all the crypto world advancements, there haven’t been many significant crypto credit facilities. However, suppose we will advocate for the mass adoption of credit facilities. In that case, we need to ensure that we have services similar to the traditional financial system, but only with some advantages.  Fortunately, Nexo, a leading FinTech group, has taken it upon itself to provide the world’s first instant crypto-backed loans. Thanks to this platform, anyone with some crypto assets benefits from it without…

Chainlink will be pivotal to bringing data to smart contracts. That is, according to  Humphries, a former NBA star.  In a recent tweet, Mr. Humphries suggested that smart contracts will be crucial to human interactions.  He averred that Chainlink was the only solution capable of bringing data to smart contracts securely and trustlessly. "The world increasingly relies on data. Smart contracts will be no different. Chainlink is the only solution to bring data into smart contacts in a decentralized, secure…

Major corporations globally use smart contracts running on the Ethereum blockchain. That implies that the second largest cryptocurrency is performing as intended. However, the blockchain is experiencing some challenges requiring urgent redress. The Ethereum blockchain is experiencing an imbalance regarding its decentralization, security, and scalability. Vitalik Buterin calls this  “trilemma of blockchain.” In this situation, the attains a maximum of two out of the three features. All blockchains struggle to achieve all of the three. Plans are afoot to update …

Decentralized Finance, more commonly known as DeFi, is the newest trend in the cryptocurrency sector. After "Colored Coins," Smart Contracts, and ICOs, DeFi has taken the limelight. It has opened the door to a whole new branch of decentralized technologies. Among the hundreds of projects focusing on bringing Decentralize Finance to the masses, none has been as successful as the MakerDAO Network. The Need for MakerDAO The MakerDAO is a decentralized smart contract platform on Ethereum. It is one of…

The crypto space has, in recent times, witnessed a surge in decentralized finance platforms, with crypto Compound finance being the latest innovation, which has grown incredibly in the past year. In crypto, compound finance refers to an algorithmic, open-source protocol that creates money markets, currently mostly on the Ethereum blockchain. In other words, a compound can be defined as a fully automated, decentralized money market protocol. Compound finance allows users and applications to access the financial platform remotely from any…

There has been a recent surge in products and platforms providing DeFi services. Decentralized Finance, commonly referred to as DeFi, denotes any financial service offered on a blockchain, usually Ethereum smart contracts. An example of DeFi services and solutions is Over-the-Counter (OTC) cryptocurrency, which has witnessed enormous growth marked by a substantial increase in volume and clients across the globe in the past three years. Bloomberg's recent report established that OTC turnover in 2018 amounted to more than 5.47 trillion…

On the 10th of March 2020, Liam Kovatch, the CEO of Paradigm Labs, announced the closure of the company. Paradigm Labs is a decentralized finance (DeFi) project. The company noted that the closure is because of lack of significant product-market fit and limited resources. Paradigm Labs however expressed their gratitude to their community for their support in two years of their operation. What’s Next after Paradigm Labs Closure? The DeFi  project's announcement stated that the closure will affect the broader ox…

After a successful Binance IEO, Kava was launched in the last quarter of last year. Since then, the platform has been causing a fuss in the DeFi industry, projected to transform the entire crypto industry. The project aims to create the world’s first dedicated DeFi platform offering collateralized debt and stablecoins for all the leading crypto assets. Cosmos powers the project, which is built on the Tendermint core. Over 100+ business entities worldwide support Kava, including renowned crypto funds such…

The leading Decentralized finance (DeFi) player, MakerDAO has recently announced a partnership with Simplex, one of the leading payment solutions providers. This announcement was according to a recent tweet by those in the know. The partnership aims to create a fiat on-ramp for MakerDAO’s stablecoin, DAI. Clients will be able to purchase DAI through their credit and debit cards thanks to a solution offered by Simplex. MakerDAO is a giant in the DeFi space. The company behind the Dai decentralized…